Sharon AI raises $489m in convertible notes to fund GPUs
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The news: Sharon AI has raised USD350 million ($489 million) through the closing of its private offering of convertible senior notes, in a round led by Oaktree Capital Management.
The context: The company said that the proceeds will be used to fund GPUs and network procurements, alongside supporting AI cloud deployments.
This follows a previously announced cloud computing infrastructure agreement with a global technology company, valued at approximately USD950 million over five years, with revenue expected to commence by the end of the third and fourth quarters of 2026.
The source: Business Wire
